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Author Topic: Why economic statistics could be hiding social decline  (Read 175 times)
Smartprofit
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May 25, 2026, 04:12:06 PM
 #21

Yes, I agree with you! Gross domestic product is an economic indicator that provides no objective information about the current state of the country's economy. 🙋

A country's entire population could be severely depressed, everyone could be buying antidepressants en masse, and yet the cost of these antidepressants and psychiatric services would increase the gross domestic product. And the statistics would claim that the country is doing great...

By the way, there's a very simple way for government leaders to significantly increase the gross domestic product. To do this, they need to create a problem and then eliminate its consequences. For example, create an environmental disaster and then fund the measures to eliminate it!

However, human health, a good environment, friendship, love, mutual understanding, and other similar things do not increase the gross domestic product. After all, they are very difficult to quantify in monetary terms. Yet, they directly impact people's well-being.💁

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Cheema02
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May 25, 2026, 06:35:11 PM
 #22

When a country is x percent richer compared to other years, it actually means the wealthy people have become richer, not the poor masses. In times like these, the wealthy become more wealthy while the poor become poorer. Few get lucky enough to join the league of the wealthy, probably less than 2% of the poor. Big companies striving in agriculture, manufacturing, NGO,  and civil servants with successful small businesses are used to measure the GDP. But a major impact from big companies.
Its very realistic and valid point that in rich countries almost all individuals living better life style but its doesn't always same for poor people of that country. In rich countries mostly limited people make multinational companies which improves the stat of these countries but the poor people keep struggling. Growth in imports due to progress of agricultural and industrial sector helps to increase GDP on paper but the opportunities not always equally distributed. Only some individuals who are extra ordinary improves there life style. GDP is not the indicator of any countries success because actuall success and growth meanings that residents of that country have comfortable living expenses, good health care facilities and good job opportunities or mostly poor people satisfied with there living standards.

Franklyn-wood
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May 25, 2026, 09:34:36 PM
 #23

GDP is one of the dumbest measures there are. Measuring the growth of an economy in terms of how much spending there is, is completely insane. People could be dying of starvation in the streets, and the GDP could still point positive if the banking system loaned the government sufficiently, and the government spent it on cronies.

Just a reminder that during the WW2, GDP was going up. That's all you need to know about how reliable it is.


I agree with you about that as many countries today who GDP is high, many of there citizens are very poor and helpless, but when you look at there GDP, you will see that even when the GDP is high the people under this same economy are suffering bad. If a country have fascinating GDP and yet the social aspect is overlooked. It will only be a ceremonial statue without inpacts on the people becomes a waste effects over the year

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